Bank Of China

Bank Of China Climate Commitments & Emissions Overview

Bank Of China, headquartered in China and operating in financial intermediation services, reported global Scope 1 emissions of 77,288,000 kg CO2e, Scope 2 emissions of 1,138,311,000 kg CO2e, and Scope 3 emissions from waste generated in operations of 11,592,000 kg CO2e in 2024. In 2023, the bank reported Scope 1 emissions of 84,740,000 kg CO2e and Scope 2 emissions of 1,509,353,000 kg CO2e. For 2022, Scope 1 emissions were 74,899,000 kg CO2e and Scope 2 emissions were 1,462,647,000 kg CO2e.

The bank is committed to reducing its environmental impact with several targets. It aims for a 40% absolute reduction in Scope 1 and Scope 2 carbon emissions by 2025, using a 2019 baseline. Furthermore, Bank Of China has a long-term goal to reduce its Scope 1 emissions by 50% by 2050 from a 2020 baseline and its Scope 2 emissions by 50% by 2050 from a 2020 baseline. Certain branches, such as BOC London Branch, BOC (UK), and BOCHK, are working towards operational carbon neutrality within their jurisdictions by 2030. Additionally, the bank ceased providing financing for new coal mining and coal power projects outside of China from the fourth quarter of 2021, with the exception of projects already contracted.